BioAtla, Inc. has reinstated retention bonus programs for Chief Executive Officer Jay M. Short and Chief Financial Officer Christian Vasquez, contingent on achieving specific financial milestones by the end of 2026. The company also announced that Dr. Eric Sievers resigned as Chief Medical Officer on September 25, 2026, to pursue outside interests, while transitioning into a consulting role.
The Board of Directors approved these compensation adjustments on September 24, 2026, citing an ongoing strategic process. The original retention bonus programs, which were intended to replace annual bonuses for the first eight months of the year, had lapsed because neither Milestone #1 (due May 31, 2026) nor Milestone #2 (due August 31, 2026) was completed. The new agreements extend the deadline for these milestones to December 31, 2026.
Dr. Short’s target retention bonus is $440,892, which equals 60% of his annual base salary. Unlike the previous program, this reinstated bonus does not include a sliding scale; Dr. Short must achieve 100% of the milestone to receive any payout. Any earned bonus is payable by January 30, 2027, provided he remains employed and in good standing at that time.
Christian Vasquez’s target retention bonus for Milestone #2 is $148,888, representing 40% of his annual base salary. This payout operates on a sliding scale. If the milestone is exceeded by up to 20%, the payout increases proportionally to a maximum of 120% of the target. If the milestone is missed by up to 20%, the payout decreases to a minimum of 80% of the target. If the milestone is missed by more than 20%, no payout is earned. The payment is due by January 31, 2027.
Additionally, the Board approved a separate cash performance bonus for both executives to incentivize results through the first quarter of 2027. This bonus is contingent on achieving financial and capital raising milestones by March 31, 2027. Vasquez’s target amount is $75,000, while Dr. Short’s target is $220,000. Payments for these performance bonuses are due by April 30, 2027.
Regarding Dr. Sievers’ departure, he will continue as a consultant under an agreement dated September 25, 2026. Through December 31, 2026, he is eligible for a one-time payment of $159,000 for consulting services requested by the company, contingent on BioAtla achieving certain capital raising milestones by that date. From January 1, 2027, through June 30, 2027, he will be paid an hourly rate proportional to his base salary at separation. The consulting agreement expires on June 30, 2027, unless mutually extended.
BioAtla reported these changes in a Form 8-K filed with the U.S. Securities and Exchange Commission on September 29, 2026.